Chinese end talks of Spacecom purchase

Talks between China’s Beijing Xinwei Technology Group and Spacecom of Israel have broken down. Some five months of dialogue, and not helped by the September 1st loss of the AMOS-6 satellite, have scuppered the prospects of a sale by Spacecom.

Spacecom, which operates the Amos fleet of satellites, simply says that the talks ended without a deal being agreed. Spacecom admitted that while they were never formally broken off, the two sides had not held discussions for some time.

Beijing Xinwei had previously agreed to pay $285 million (€268m) for Spacecom, and this sum was reduced to $190 million following the September 1st catastrophe. Jointly-agreed deadlines for the purchase to close were missed.

The good news is that Spacecom now says that it is in talks with other candidates